AFMACAS:AFM 84 Pretax Margin % is 21.01% as of Dec. 2025, which is 43% below its 10-year median of 36.61. GuruFocus rates CAS:AFM with a GF Score™ of 84/100 and a GF Value™ of MAD1,572.88 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 501 Insurance companies, AFMA ranks better than 87.23% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. AFMA's Pre-Tax Income for the
six
months ended in Dec. 2025 was MAD29.2 Mil. AFMA's Revenue for the
six
months ended in Dec. 2025 was MAD138.9 Mil. Therefore, AFMA's pretax margin for the quarter that ended in Dec. 2025 was 21.01%.
The historical rank and industry rank for AFMA's Pretax Margin % or its related term are showing as below:
CAS:AFM'
s Pretax Margin % Range Over the Past 10 Years
Min: 31.25 Med: 36.61 Max: 42.32
Current: 31.25
CAS:AFM's Pretax Margin % is ranked better than 87.23% of 501
companies
in the Insurance industry
Industry Median: 12.04
vs CAS:AFM: 31.25
AFMA (CAS:AFM) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
AFMA Pretax Margin % Related Terms
AFMA Pretax Margin % Historical Data
* Premium members only.
The historical data trend for AFMA's Pretax Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CAS:AFM vs MRSH, AON, AJG: Pretax Margin % Comparison
For the Insurance Brokers subindustry, AFMA's Pretax Margin %, along with its competitors' market caps and Pretax Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
AFMA Pretax Margin % vs Insurance Industry
For the Insurance industry and Financial Services sector, AFMA's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where AFMA's Pretax Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
AFMA (CAS:AFM) has a Pretax Margin % of 21.01% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on AFMA and its competitors. This is 43% below median its historical median of 36.61. Over the past decade, AFMA's Pretax Margin % has ranged from 31.25 to 42.32. According to the industry distribution chart, AFMA ranks #64 out of 501 companies in the Insurance industry, placing it in the top 12.8%.
Is AFMA's Pretax Margin % too high?
AFMA's current Pretax Margin % of 21.01% is 43% below median its 10-year median of 36.61. Over the past 10 years, this metric has ranged from a low of 31.25 to a high of 42.32. The Insurance industry median Pretax Margin % is 12.04. AFMA's value of 21.01% is 74.5% above this industry median. Based on the distribution chart, AFMA ranks #64 out of 501 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, AFMA has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does AFMA's Pretax Margin % compare to MRSH and AON?
According to the Insurance industry distribution chart, AFMA ranks #64 out of 501 companies for Pretax Margin %. This places AFMA in the top 13% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 12.04. AFMA's value of 21.01% is 74.5% above this benchmark. Historically, AFMA's own Pretax Margin % has ranged from 31.25 to 42.32 over the past decade. While the company's 10-year median is 36.61 vs. the industry median of 12.04, AFMA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for an Insurance company?
The median Pretax Margin % among Insurance companies is 12.04, based on 501 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. AFMA's current Pretax Margin % of 21.01% is 74.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on AFMA and its competitors. For the Insurance industry, the median Pretax Margin % is 12.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AFMA's current Pretax Margin % is 21.01%, which is 43% below median its own 10-year median of 36.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AFMA stock overvalued right now?
Based on GuruFocus' analysis, AFMA (CAS:AFM) is currently considered Modestly Undervalued. The stock's GF Value™ is MAD1,572.88, compared to a current price of MAD1,240.00 — trading 21.2% below its estimated fair value. The current Pretax Margin % is 21.01%, which is 43% below median its 10-year median of 36.61 and 74.5% above the Insurance industry median of 12.04. AFMA's overall GF Score™ is 84/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For AFMA (CAS:AFM), the current Pretax Margin % is 21.01% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is AFMA (CAS:AFM) Overvalued in 2026?
Based on GuruFocus' analysis, AFMA stock appears to be undervalued.
The current stock price of MAD1,240.00 is trading 21.2% below its estimated GF Value™ of MAD1,572.88.
GuruFocus considers AFMA to be Modestly Undervalued.
Key valuation signals for CAS:AFM:
Pretax Margin %: 21.01% (43% below median its 10-year median of 36.61)
GF Value™: MAD1,572.88 vs. price of MAD1,240.00 (21.2% below fair value)
Industry Position: 74.5% above the Insurance median (#64 of 501)
No single metric tells the full story. See the CAS:AFM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AFMA SA provides insurance brokerage services in Morocco. It offers insurance products including Damage Insurance, Insurance Operating Losses, Civil Responsibilities, Car insurance, Transport Insurance, Construction-Related Insurance, Insurance of Persons and Credit insurance. It provides insurance services to both individuals and corporate clients.
84GF Score
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